PH remains 73rd in the world innovation index

MANILA – The Philippines has retained its place in the Global Innovation Index (GII) 2018, ranking 73rd out of 126 economies.

The GII, which measures the innovation performance of an economy by the contribution of innovation and production subindices, is co-published by the World Organization of Intellectual Property, Cornell University, and INSEAD – a top business school based in France.

In the innovation input sub-index, the Philippines landed in 82nd place. 19659004] The input sub-index measures the strength of the country in the economic pillars that stimulate innovation, including institutions, human capital and research, infrastructure, market sophistication and sophistication. companies. The Philippines ranks first as a percentage of research talent in commercial enterprises at 63%; 60% of enterprises offering formal training to employees, 60% of firms offering formal training; and 29% of all graduates of higher education follow this path.

The country also ranks first among indicators such as gross domestic product (GDP) per unit of energy use, which promotes ecological development. durability; The Philippines share in the innovation production subindex is higher at rank 68. This measures the country's innovation activities in knowledge and technology products and creative results .

Previously, the Philippine Intellectual Property Office (IPOPHL) noted that strengthening the protection and enforcement of intellectual property contributed to the country's performance.

IP-related indicators were also the input and output sub-indices of innovation

Meanwhile, the Philippines' ranking in the innovation report stagnated compared to that of its neighbors in ASEAN.

Singapore also rose from 7 to 7 last year; Malaysia, 35 out of 37; Thailand at 44 from 51; Vietnam, 45 years old, 47 years old; Brunei, 67 to 71; Indonesia, 85 to 87; and Cambodia, at 98 instead of 101.

The GII helps policymakers to develop strategies that will stimulate the country's innovation.